Loading...
Loading...
This is your Benzinga news summary and traders' outlook for Monday, August 8, 2011, covering headlines from overnight and Monday's pre-market session.
Today in domestic pre-market trading, U.S. equity futures are set for another weak morning as traders mull over the
S&P credit downgrade of the United States. At last check, Dow futures are down over 2% and the U.S. dollar trades flat near the $74.75 level.
Earlier this morning, Oppenheimer upgraded Royal Dutch Shell
RDS to Outperform and JP Morgan upgraded Domtar
UFS to Neutral. View all of
today's upgrades here.
KeyBanc downgraded Summit Hotel Properties
INN to Hold and Goldman Sachs downgraded OfficeMax
OMX to Neutral and removed the company from Americas Buy List. View all of
today's downgrades here.
Morgan Keegan lowered Spectra Energy's
SEP price target to $35 from $37, Jefferies lowered American Electric Power's
AEP price target to $37 from $39, and Goldman Sachs added Boeing
BA to its Conviction Buy List. View all other
analyst ratings here.
Overseas, European markets were lower in afternoon trading. Britain's FTSE 100 fell 1.6% and France's CAC 40 slipped 1.9% on the session. Asian stocks ended the session lower as well. China's Shanghai Index lost 3.8%, Japan's Nikkei 225 sank 2.2%, and Hong Kong's Hang Seng Index tumbled over 2%.
The European Central Bank announced on Friday a plan to purchase Italian and Spanish bonds in order to support the ailing economies.
On the economic calendar, there is no economic data set to be reported today.
On the commodity front,
gold and
silverLoading...
Loading...
futures are higher in pre-market trading, with gold hitting new all-time highs of $1718.20 per ounce level and silver up about 3%. Energy futures are lower with
crude oil near $84.00 per barrel and
gasoline futures trading lower by over 2.5%.
Natural gas futures are trading lower this morning and
copper futures are lower by over 0.75% this morning.
On the earnings front, Scotts Miracle-Gro
SMG reported Q3 EPS of $1.91 on revenues of $1.06 billion; The Street was looking for $2.20 per share on revenues of $1.11 billion. The company also guided fiscal year 2011 lower than analyst estimates and increased its quarterly dividend by $0.05 to $0.30 per share.
Tyson Foods
TSN reported Q3 EPS of $0.46 on revenues of $8.25 billion; The Street was looking for $0.41 per share on revenues of $8.29 billion.
Quicksilver Resources
KWK reported Q2 EPS of $0.07 on revenues of $248.4 million; The Street was looking for $0.05 per share on revenues of $218.8 million.
In corporate news, Transatlantic Holdings
TRH confirmed over the weekend that the company has received a proposal from National Indemnity Company a member of the group of insurance companies of Berkshire Hathaway
BRK BRK.B), to acquire all of Transatlantic's outstanding shares of common stock for $52.00 per share. This represents a 15% premium to Friday's close.
This concludes your news summary for August 8, 2011.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Posted In: EarningsLong IdeasNewsGuidanceShort IdeasFuturesCommoditiesForexM&AEventsGlobalEcon #sEconomicsPre-Market OutlookMarketsTrading IdeasGeneralAerospace & DefenseConsumer DiscretionaryConsumer StaplesEnergyFertilizers & Agricultural ChemicalsFinancialsIndustrialsMaterialsOil & Gas Exploration & ProductionPackaged Foods & MeatsPaper ProductsReinsuranceSpecialty StoresUtilities
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in